Bright Grey pays nine out of 10 critical illness claims

Bright Grey has announced that it paid out 91 per cent of critical illness claims in the last six months of 2011, with the average pay-out on policies over the period standing at around £82,000.

Just 2 per cent of claims were declined by Bright Grey for non-disclosure.

The firm said that Cancer remained the most common reason for a claim, accounting for 55 per cent of all submissions. This was followed by heart attack with 10 per cent of the claims share, stroke with 10 per cent and multiple sclerosis with nine per cent.

Nearly half of claims were made by people who were 40 or less, with the youngest claimant just just 23-years-old having suffered a stroke.

Roger Edwards, proposition director of Bright Grey, said: “Over half of our claims were for cancer which might appear to be a frightening statistic. But the good news is that with better screening and earlier testing, more people than ever before are surviving the disease.

“For many, chemo and other treatment means taking months off work and this is where the money from a critical illness policy comes into its own - easing any financial worries so they can focus on getting better.

“One consequence of better screening is that we are seeing more people being treated for earlier forms of cancer. So, last year we introduced two definitions that provide additional cover for ductal carcinoma in situ, an early form of breast cancer and low grade prostate cancer.

“It is vital that we keep improving our critical illness cover to give clients even greater protection and to keep pace with medical advances.”